Posted on Aug 04, 2010 by Sergio Ulloa
OneBeacon Insurance Group has recently added new areas of coverage to expand its international capabilities with two insurance products; International Kidnap and Ransom, and International Business Travel Accident. OneBeacon Insurance Group, Ltd. is a Bermuda-based holding company, listed on the New York Stock Exchange.
OneBeacon is aiming these two new products towards several of their specialty insurance customers with international exposure, particularly in technology, energy, financial services and property, and inland marine. Current OneBeacon policyholders within these market segments will be able to get the new coverages on offer at renewal, whilst new clients can get them any time now, as they became available at the beginning of this month, on 01 August 2010.
The coverage limits of the new International Kidnap and Ransom insurance range from US$50,000 (EUR 37,880) to US$5 million (EUR 3.8 million) per instance.
The new International Business Travel Accident insurance product offers 24-hour coverage, including 72-hour personal excursion protection.
The goal of OneBeacon is to offer critical global coverages in a seamless manner. These new coverages are actually built on the company's @dvantage product platform and were designed to expand the current package of the policy, eliminating the need to purchase them on a standalone basis.
Insurance Company mentioned:
OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is publicly traded on the New York Stock Exchange. OneBeacon Insurance Group's underwriting companies offer a range of insurance products sold through select independent agents, regional and national brokers, and wholesalers. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company. Today, OneBeacon's specialty insurance businesses are national in scope while its personal lines of business are concentrated in the Northeastern United States.